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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Mar. 31, 2023
Current Assets    
Cash $ 6,703,000 $ 2,895,000
Inventory 6,871,000 9,085,000
Returns asset 1,919,000 555,000
Prepaid expenses and other current assets 136,000 351,000
Total Current Assets 23,206,000 15,200,000
Property and equipment, net 404,000 633,000
Operating leases - right of use assets 3,926,000 561,000
Other non-current assets 179,000 255,000
Total Assets 27,715,000 16,649,000
Current Liabilities    
Accounts payable 7,616,000 1,769,000
Accrued expenses 2,614,000 2,266,000
Refund due to customer 1,743,000
Customer prepayments 687,000 583,000
Reserve for sales returns 3,390,000 900,000
Other current liabilities 75,000 99,000
Current portion of operating lease liabilities 84,000 509,000
Total Current Liabilities 16,209,000 6,126,000
Other liabilities, net of current portion 3,000 104,000
Operating lease liabilities, net of current portion 3,925,000 88,000
Total Liabilities 20,137,000 6,318,000
Commitments and Contingencies
Shareholders’ Equity    
Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding
Common stock $0.01 par value; 100,000,000 shares authorized; 6,418,061 issued and outstanding at December 31, 2023 and 3,184,439 issued and 3,167,489 outstanding at March 31, 2023 64,000 32,000
Additional paid-in capital 33,429,000 29,822,000
Subscriptions receivable (6,000)
Accumulated deficit (25,915,000) (19,517,000)
Total Shareholders’ Equity 7,578,000 10,331,000
Total Liabilities and Shareholders’ Equity 27,715,000 16,649,000
Nonrelated Party [Member]    
Current Assets    
Accounts receivable 7,308,000 2,075,000
Related Party [Member]    
Current Assets    
Accounts receivable $ 269,000 $ 239,000